MAUSAMI BANEREJEE Vs. STATE OF CHHATTISGARH

JUDGEMENT

(1.) This is the first bail application filed under Sec. 439 of the Code of Criminal Procedure for grant of regular bail to the applicants who have been arrested in connection with Crime No.166/2015 registered at Police Station- Dallirajhara, District Balod (C.G.) for the offence punishable under Sec. 420 of IPC and Sec. 3, 4, 5 of the Prize Chits and Money Circulation Scheme Banning Act, 1978.

(2.) Case of the prosecution, in brief, is that a report was made by the depositors that the company namely SPNJ Land Project and Developers India Limited have collected huge amount in crores from the different investors on the assurance that the amount would be doubled in short period of time and the bonus would be paid as interest. Subsequently, all of a sudden, all the offices and branches of the company was closed and everybody in the helm of the company affair fled away. On being investigated, the offence was subsequently registered.

(3.) Learned counsel for the applicants submits that applicants though were ladies shows as director of the SPNJ Land Project and Developers India Limited but the entire working was being done by Rajkumar, who are the husband and brother of the applicant to whom the power of attorney was given. It is further submitted that the charge sheet in this case has been filed and the applicants being the ladies were not in helm of affairs of the company. It is further submitted that the company has purchased 115 acres of land from the investment made and since there was a restrained order was passed by the SEBI and the entire activities of the companies were stopped as such company could not repay the amount to the investors. It is further submitted that before the order of the SEBI, the company had paid the amount of commission to the different investors. He further submits that there are 45 witnesses and 3 witnesses have only been examined, the trial may take some time and the applicants are in jail since 3/10/2015, therefore, the applicants may be enlarged on bail.